MKT 202 MID-TERM (Marks 5 × 6 = 30)

(There are five questions. All question contain 6 Marks each)

Name: Soheb Bashar ID:2012676630

Sec:21

Q1: Conduct a SWOT analysis, develop strategic and marketing objectives, and create a mission
statement for your one of your childhood school.

Ans:SWOT analysis is an overall evaluation of the company or school strength(S),

weakness(W), opportunities(O) and threats(T).The main aim of SWOT analysis is to match the
company or school strengths to attractive opportunities in the environment, while eliminating or
overcoming the weakness and minimizing the threats.Now a SWOT analysis for one of my
childhood school is conducted below:-

Strengths:
1.Highly experienced teachers
2.Association and cooperation within the
department
3.Slightest issues of bullying or fighting
among students
4.Computer labs,science labs, sports club and
other clubs in all schools
Weakness:
1.large number of low and middle income
families
2.Shortage of textbooks due to budget
limitation
3.Short supplies i.e copy paper for teachers to
use to increase learning
4.Technology is bounded because school is
not one to one

Opportunities: Threats:
1.Well built cadet program for students 1.Gap between graduation rates of different
interested in military service communities students
2.Different clubs for students of all 2.Perceptions of alcohol and drug abuse in the
educational levels & cultures to take part school
3.Athletic opportunities in several sports 3.Continuous budget cuts causing loss of
4.Teachers give opportunities to get help educational supplies
before and after school

Then a mission statement was created and strategic and marketing objectives were
developed.Mission statement is the organization purpose,what it wants to accomplish in the
larger environment.And then the strategic planning and marketing objective were developed to
achieve the mission that was created.In my childhood school marketing objectives and strategic
planning was developed in order to accomplish the mission that was created.The mission was to
increase the number of students by making proper strategic planning and marketing objectives.
Q2: Ideally, each member of a value chain adds value to a product before someone buys it.
Thinking about a music CD you might buy in a store, what kind of value does the music retailer
add? How about the label that signs the artist? The public relations firm that arranges a tour
by the artist to promote the new CD? The production company that shoots a music video to go
along with the cut?

Ans:Each member of a value chain adds value to a product before someone buys its.Here value
means the tangible and intangible benefits of a customer receives from buying a product or
service.Now I buy a music CD from a store, there the music retailer has a good experience of
value by which he can sell it.The label that signs the artist is very popular so as a result it will be
sell more.The public relation firm that arranges atour by the artist to promote the new CD by
making advertisement through social media and the TV commercial etc.Then the production
company that shoots a music video to go along with the cut by making the video and adding high
quality in that video

Q3: Why marketers play a critical role in tracking marketing environmental trends and spotting
opportunities?

Ans:The actors and forces outside marketing that affect marketing management's ability to build
and maintain successful relationships with customers.The marketing environment consist of two
environments which are microenvironment and macroenvironment.Marketers play a vital role in
tracking marketing environmental trends and spotting opportunities.Because here the main
objective of marketers main objective is to deliver value to satisfied customers and thus
marketers build both internal and external relationship.

Microenvironment: It is consists of actors close to the company that affect its ability to serve its
customer,the company,suppliers,marketing intermediaries,customer markets,competitors and
publics.In the company microenvironment the marketers takes into account other company group
such as: Top management,Finance,R&D,Purchasing,Operations,Accounting in designing
marketing plan and to implement it successfully.Also the marketers provide resources to
suppliers to produce goods and services, provides important link in company overall customer
value delivery network and treat as partner to provide customer value.The marketers helps the
company find customers or make sales to the wholesalers and retailers by the help of distribution
channel firms.Also the marketers help the company to stock and move goods from the point of
origin to their destination,target and promote its products to the right markets (research firms,
advertising agencies, media firms, marketing consulting firms etc.).Also marketers play a critical
role in tracking marketing environmental trends through competitive advantage where a
company’s potential to outperform the competition, thereby providing customers with a benefit
the competition cannot provide.Marketers plays an important role in tracking marketing
environmental trends and spotting opportunities by public who has has an actual or potential
interest in or impact on an organization’s ability to achieve its objectives.Also the marketers play
a critical role in tracking marketing environmental trends and spotting opportunities through
customer markets.like Consumer markets which consist of individuals and households that buy
goods and services for personal consumption.Business markets who buy goods and services for
further processing.Reseller markets who buy goods and services to resell at a profit.Government
markets consist of government agencies who buy goods and services to produce public services
or shift goods and services to others who need them and International markets which consist of
these buyers in other countries.

Macro Environment:It usually consist of the larger societal forces that affect the
microenvironment-demographic, economic, natural, technological, political and cultural forces.
In the company macro environment marketers play a critical role in tracking marketing
environmental trends and spotting opportunities by Demography which studies human
populations, size, density, location, age, gender, race, occupation, and other statistics.Also
marketers play a critical role in tracking marketing environmental trends and spotting
opportunities by economic environment which includes of factors that affect consumer
purchasing power and spending patterns..Also marketers play a critical role in tracking
marketing environmental trends and spotting opportunities by Natural environment where
natural resources that are needed as inputs by marketers or that are affected by marketing
activities.Also marketers play a critical role in tracking marketing environmental trends and
spotting opportunities by technological environment which is the most significant force in
changing the marketplace by making new products,providing opportunities and analyse for the
safety of new products.Also marketers play a critical role in tracking marketing environmental
trends and spotting opportunities through political environment where laws, government
agencies, and pressure groups that influence or limit various organizations and individuals in a
given society.Also marketers play a critical role in tracking marketing environmental trends and
spotting opportunities by Cultural environment which includes of institutions and other forces
that affect a society’s basic values, perceptions, and behaviors.

Q4: Gather ideas about different dimensions useful for segmenting the women’s beauty products
market. Based on those ideas segment the Bangladesh women’s beauty products market.
Considering you are a mid-size company which segment(s) will you target? Why?

Ans:Segmentation is the process of dividing a larger market into smaller pieces based on one or
more meaningful, shared characteristics. like Segmenting consumer markets,Segmenting
business markets,Segmenting international markets
Segmenting consumer markets includes Geographic segmentation,Demographic
segmentation,Psychographic segmentation,Behavioral segmentation.

Geographic segmentation:This type of segmentation divides the market into different

geographical sections such as nations, regions, states, countries or cities.Many companies and
product markets at present days are localizing products, advertising, promotion, and sales efforts
to suit the needs of particular regions, cities, and even neighborhoods.
Demographic segmentation:This type of segmentation divides the market into groups based on
variables such as age, gender, family size, family life cycle, income, occupation, education,
religion, race, generation, and nationality. Popular bases for segmentation as consumer needs,
wants and usage rates often differ closely with demographic variables

Psychographic segmentation: This type of segmentation divides buyers into different groups
based on social class, lifestyle, or personality characteristics.People in the same geographic or
demographic segment might have different lifestyles, personality characteristics or may belong
to different social classes.

Behavioral segmentation:This type of segmentation divides buyers into groups based on their
knowledge, attitudes, uses, or responses to a product that includes occasions,benefits sought,user
status,usage rate,loyalty status.

Based on the above mention ideas of different segmentations the Bangladesh women's beauty
products market me as a mid size company I would target the Psychographic segmentation and
Demographic segmentation.Because in Psychographic segmentation we can see that buyers are
divided according to different class of people,different lifestyle and different personality.And in
Demographic segmentation we can see that market is divided into many groups based on their
age,gender family size,life cycle of the family income occupation etc..

Q5: Explain the stages of the consumer buyer decision process and describe how you or your
family went through this process to make a recent purchase.

Ans:There are five stages of consumer buyer decision process.They are:

1.Problem Recognition
2. Information Search
3. Evaluation of Alternatives
4. Product Choice
5. Postpurchase Evaluation

1.Problem Recognition:The process of buying starts with problem recognition.The problem can
be caused by internal stimuli when one of the person's normal needs.This recognition initiates the
decision making process and some marketers attempt to trigger this recognition.

2.Information Search:In this process the consumer is inspired to search for more and
appropriate information; the consumer may simply have raised attention or may go into an active
information search.Here consumers can acquire information from several sources which includes
include personal sources(family, friends, neighbors,acquaintances),commercial
sources(advertising, salespeople, dealer Websites , packaging , displays ) ,public sources(mass
media, con-sumer rating organizations, Internet searches), and experiential sources(handling,
examining, using the product).
3.Evaluation of Alternatives:In this process the consumer uses information to evaluate
alternative brands in the choices.Also the consumers will use an evaluation criteria which are the
dimensions used to compare competing product alternatives.Thus the marketers try to influence
the consumers choice of products characteristics and usually highlight certain product features in
their ads.Here many consumers depends on heuristics, which are decision rules that help simplify
the decision making process.

4.Product choice:In this process the buyer’s decision about which brand to purchase.After
evaluation the consumer selects the best product for them.In this process some consumers
assume that price i.e quality, make brand-loyal decisions, choose products based on country of
origin.These repeat purchases are followed by underlying positive attitudes.

5.Postpurchase Evaluation:In this buyer decision process consumers take further action after
purchase based on their satisfaction or dissatisfaction with a purchase.In this process the
consumer evaluates whether it was a good or bad choice after (post) purchase.

Now if my family wants to make a recent purchase like a car then first we have to recognize the
product .To recognize or gather information about the car from my
family,friends,neighbourhood,TV commercials,whole-sellers,retailers,yellow pages.After
gathering all the informations about the car we will use the evaluation criteria to select the best
car from the market.There are many types of car in the market with different types of brand
loyalty and country origin.After considering,all circumstances mentioned above, we were
satisfied.